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HNST vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HNST vs. SPY

Last updated Jun 4, 2026

HNST (The Honest Company, Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, HNST returned -27.94%/yr vs 13.83%/yr for SPY. At a 0.44 correlation, their price movements are largely independent.

Performance

HNST vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Honest Company, Inc. (HNST) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HNST achieves a 28.29% return, which is significantly higher than SPY's 10.91% return.

HNST

1D
-2.07%
1M
-0.90%
YTD
28.29%
6M
17.38%
1Y
-34.46%
3Y*
28.78%
5Y*
-27.94%
10Y*
—

SPY

1D
-0.70%
1M
5.05%
YTD
10.91%
6M
10.91%
1Y
27.98%
3Y*
22.35%
5Y*
13.83%
10Y*
15.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HNST vs. SPY - Yearly Performance Comparison

2026 (YTD)20252024202320222021
HNST
The Honest Company, Inc.		28.29%-62.77%110.00%9.63%-62.79%-49.44%
SPY
State Street SPDR S&P 500 ETF		10.91%17.72%24.89%26.18%-18.18%15.42%

Correlation

The correlation between HNST and SPY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.37

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since May 5, 2021

0.44

Compare stocks, funds, or ETFs

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The Honest Company, Inc.

State Street SPDR S&P 500 ETF

Often compared with HNST:
HNST vs. FUBOHNST vs. DCTHHNST vs. CCLDHNST vs. RCMTHNST vs. SCHDHNST vs. PLTRHNST vs. SHOP
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

Return for Risk

HNST vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HNST
HNST Risk / Return Rank: 2020
Overall Rank
HNST Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
HNST Sortino Ratio Rank: 2020
Sortino Ratio Rank
HNST Omega Ratio Rank: 2020
Omega Ratio Rank
HNST Calmar Ratio Rank: 2020
Calmar Ratio Rank
HNST Martin Ratio Rank: 2222
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 7070
Overall Rank
SPY Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SPY Omega Ratio Rank: 7070
Omega Ratio Rank
SPY Calmar Ratio Rank: 6262
Calmar Ratio Rank
SPY Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HNST vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Honest Company, Inc. (HNST) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

HNSTSPYDifference
Sharpe ratioReturn per unit of total volatility
-0.53
2.38

-2.91

Sortino ratioReturn per unit of downside risk
-0.45
3.24

-3.69

Omega ratioGain probability vs. loss probability

0.94

1.43

-0.49

Calmar ratioReturn relative to maximum drawdown

-0.58

3.16

-3.75

Martin ratioReturn relative to average drawdown

-0.93

14.72

-15.64

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HNST vs. SPY - Sharpe Ratio Comparison

The current HNST Sharpe Ratio is -0.53, which is lower than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of HNST and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HNSTSPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.53

2.38

-2.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.39

0.82

-1.20

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.35

0.59

-0.94

Drawdowns

HNST vs. SPY - Drawdown Comparison

The maximum HNST drawdown since its inception was -95.22%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HNST and SPY.

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Drawdown Indicators

HNSTSPYDifference

Max Drawdown

Largest peak-to-trough decline

-95.22%

-55.19%

-40.03%

Max Drawdown (1Y)

Largest decline over 1 year

-59.30%

-8.88%

-50.42%

Max Drawdown (3Y)

Largest decline over 3 years

-75.50%

-18.76%

-56.74%

Max Drawdown (5Y)

Largest decline over 5 years

-94.24%

-24.50%

-69.74%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.72%

—

Current Drawdown

Current decline from peak

-85.61%

-0.70%

-84.91%

Average Drawdown

Average peak-to-trough decline

-79.79%

-9.05%

-70.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

37.27%

1.91%

+35.36%

Volatility

HNST vs. SPY - Volatility Comparison

The Honest Company, Inc. (HNST) has a higher volatility of 20.13% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that HNST's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HNSTSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

20.13%

2.84%

+17.29%

Volatility (6M)

Calculated over the trailing 6-month period

39.55%

8.90%

+30.65%

Volatility (1Y)

Calculated over the trailing 1-year period

64.64%

11.83%

+52.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

72.31%

17.05%

+55.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

75.51%

17.94%

+57.57%

Dividends

HNST vs. SPY - Dividend Comparison

HNST has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 0.98%.

PositionTTM20252024202320222021202020192018201720162015
HNST
The Honest Company, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
State Street SPDR S&P 500 ETF		0.98%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

HNST and SPY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HNST has higher volatility (20.13%) compared to SPY (2.84%). In terms of maximum drawdown, HNST dropped -95.22% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (2.38 vs -0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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